The blockchain company Electroneum has announced its agreement with One Development - one of the leading developers of mobile virtual networks in Thailand. One Development provides core network infrastructure and data transmission services to companies, which can then sell them under their own brands, for example to telephone companies. Electroneum's (ETN) partnership with the Thai mobile operator will make it possible to rapidly expand the country's telephone network. To begin with, specialists will study options for using Electroneum as a comprehensive cryptocurrency solution. This may even include using ETN tokens to pay for data usage.
Electroneum is a payment system that can be accessed from an app. Users can send and receive crypto transactions, lowering the barrier to entry in the developing world, where mobile devices are already used as payment instruments. Earlier this year, new KYC requirements were introduced into the system which, it is claimed, made it a reliable method of buying age-restricted goods, such as alcohol, without the need to present other identity documents.
Richard Ells, CEO and founder of Electroneum, believes that the new partnership will be an "important step" in providing more cryptographic services to Thailand. He has previously stressed that Electroneum's success depends on partnerships with network operators that can drive wider adoption of ETN. Ells said: "Our developing partnership with One Development is an important example of how the ETN model embodies self-funding, financial accessibility and inclusion. A powerful link between the unbanked and the industrialized world that enables people to lift themselves out of poverty."
Incidentally, Electroneum is not the only blockchain company integrating cryptocurrency payments into mobile devices. For example, a company selling smartphones with the Dash (DASH) cryptocurrency pre-installed has succeeded in the Latin American market, especially in Venezuela.
